Six figure salary dating
Families also face modest increases in the cost of health insurance.The Kaiser Family Foundation, which tracks the costs of health insurance, found in 2014 that average annual premiums for employer-sponsored health coverage increased 3 percent to ,834.When more of your money is going to housing, you’ve got less left over for savings and other expenses,” says Adam. Department of Agriculture, the cost to raise a child from birth to age 18 for a middle-income, two-parent family is 5,340. In recent years, college tuition costs, which have been growing faster than the rate of inflation for more than two decades, have slowed a bit.Household size and the number of children in the home also have a large impact on the power of a 0,000 income. According to the College Board’s annual Trends in College Pricing report from 2014, the average cost of in-state tuition and fees at a four-year public university increased by 2.9 percent between the 2013-2014 school year and the 2014-2015 school year to ,139.According to Bankrate’s cost-of-living comparison calculator, you’d need to earn about 1,000 in Boston to have the equivalent of 0,000 in Houston.And if you were living on 0,000 per year in Memphis, Tennessee, you’d have to earn roughly a whopping 5,000 to maintain the same standard of living in parts of New York City.
Premiums increased by 26 percent over the past five years, slower than the preceding five years, which saw costs grow 34 percent.
“Back in the ’80s when we were kids, we all looked up to a six-figure income and thought it was huge.
People still look up to that and think they’re going to be ‘rich,’ but it’s just not the case,” says Koos.
The past two school years were the first since 1974-1975 in which increases were less than 3 percent (not adjusted for inflation). “The reality is that college tuition exceeds mortgage payments for a lot of people.
If you’ve got two kids and have college costs, you’re probably not going to feel rich on a 0,000 income,” says Joe Pitzl, managing partner at Pitzl Financial in Arden Hills, Minnesota.
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Here are five reasons why that prized income no longer buys the high-end lifestyle it once did. It was 1.5 percent in 2013, according to the Bureau of Labor Statistics.